Tokyo Stocks Fall
Apr. 20, 2000
TOKYO (AP) _ Tokyo stocks fell moderately early Thursday, weighed down by a decline on Wall Street after a two-day rise. The dollar was higher against the yen.
The benchmark 225-issue Nikkei Stock Average shed 85.33 points, or 0.45 percent, to 19,001.29 points in the first 30 minutes of trading. On Wednesday, the average closed up 117.10 points, or 0.62 percent.
The dollar bought 104.62 yen, up 0.14 yen from late Wednesday in Tokyo but below its late New York level of 104.78 yen.
On the stock market, Tokyo high technology issues declined early Thursday following a drop in the tech-laden Nasdaq composite index in New York Wednesday.
In New York on Wednesday, the Dow Jones industrial average fell 92.46 points to close at 10,674.96. The Nasdaq composite index closed at 3,706.41, down 87.16.
The broader Tokyo Stock Price Index of all issues listed on the first section was down 14.72 points, or 0.91 percent, to 1,605.10 points. The TOPIX closed up 23.42 points, or 1.42 percent, the day before.
In currency dealings, the dollar remained relatively steady in early Tokyo trading following its strength against the euro in New York. In overseas trading, the greenback rose to an all-time high against the euro before losing some ground later Wednesday.
The euro was traded at 98.40 yen, down from 98.94 yen late Wednesday in Tokyo.
The euro's weakness stemmed from doubts that Europe will take measures anytime soon to stimulate growth and investment opportunities.
The yield on the benchmark 10-year Japanese government bond rose to 1.7100 percent from Wednesday's finish of 1.7050 percent. Its price fell 0.04 point to 101.64.